SPEAKER: Michel Camdessus

Former Managing Director, IMF

Michel Camdessus assumed office as Managing Director and Chairman of the Executive Board of the International Monetary Fund (IMF) on January 16, 1987. On May 22, 1996, the Executive Board of the IMF unanimously selected Mr. Camdessus to serve a third five-year term as Managing Director, beginning January 16, 1997.

Mr. Camdessus was educated at the University of Paris and earned postgraduate degrees in economics at the Institute of Political Studies of Paris and the National School of Administration.

Following his appointment as Administrateur Civil in the French Civil Service, Mr. Camdessus joined the Treasury in the Ministry of Finance and Economic Policies in 1960. After serving as Financial Attaché to the French delegation at the European Economic Community in Brussels from 1966 to 1968, he returned to the Treasury and went on to become Assistant Director in 1971, Deputy Director in 1974, and Director in February 1982. During the period 1978-84, Mr. Camdessus also served as Chairman of the Paris Club, and was Chairman of the Monetary Committee of the European Economic Community from December 1982 to December 1984.

In August 1984, Mr. Camdessus was appointed Deputy Governor of the Bank of France, and was appointed Governor of the Bank of France in November 1984. He served in this post until his appointment as Managing Director of the IMF. Mr. Camdessus was named Alternate Governor of the IMF for France in 1983 and Governor of the IMF in 1984.

Mr. Camdessus was the seventh Managing Director of the IMF. He was preceded by Camille Gutt (Belgium, 1946-51), Ivar Rooth (Sweden, 1951-56), Per Jacobsson (Sweden, 1956-63), Pierre-Paul Schweitzer (France, 1963-73), H. Johannes Witteveen (Netherlands, 1973-78), and Jacques de Larosière (France, 1978-87).

Mr. Camdessus retired from the IMF on February 14, 2000.